Taiwan expects 2% GDP growth as IMF forecasts 1.7% for 2017

2017/04/18 23:02:06 fontsize-small fontsize-default fontsize-big
Taiwan expects 2% GDP growth as IMF forecasts 1.7% for 2017

Taipei, April 18 (CNA) The Ministry of Economic Affairs (MOEA) expects Taiwan to see a gross domestic product (GDP) growth of over 2 percent this year, even though the International Monetary Fund (IMF) has maintained its economic growth forecast for Taiwan at 1.7 percent in 2017 and 1.9 percent in the following year.

The ministry expressed optimism Tuesday toward a recovery this year, given that Taiwan has reported export growth for six months in a row and a growth in export orders for seven consecutive months.

As for the first quarter of the year, every walk of life performed well, the MOEA said. With the iPhone 8 to be launched this year, the ministry said it expects growth in the related supply chain.

In February, the Directorate General of Budget, Accounting and Statistics adjusted the GDP growth forecast for the country 0.05 percentage points higher to 1.92 percent, a sign the MOEA regarded as a recovery of the economy.

In its World Economic Outlook released Tuesday, the IMF maintained its 2017 and 2018 forecast for Taiwan, the only economy among the four Asian Tigers with a GDP forecast of under 2 percent.

(By Huang Li-yun and Elizabeth Hsu)

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